The State Bank of India (SBI) is understood to have called a meeting of the lenders with Jet Airways chairman Naresh Goyal and Etihad Airways CEO Tony Douglas on Wednesday. The meeting has been called after the shareholders of Jet Airways cleared various proposals that will pave the way for banks to pick up a […]
Category: The Telegraph
Telegraph
SBI weighs tribunal route for Jet Airways
To recover its loans from Jet Airways, state-run lender SBI is considering moving the National Company Law Tribunal (NCLT) as it feels the airline is running out of funds for operations even as shareholders of the debt-laden carrier have approved a debt rejig plan, officials said. Shareholders of Jet Airways have approved the conversion of […]
Breather for HAL and troubled Mirage
Employees of Hindustan Aeronautics Limited found reason to smile on Tuesday after word spread that the Indian Air Force had used Mirage 2000 multi-role fighter aircraft for the pre-dawn air strikes across the Line of Control. The company, about which uncharitable remarks were made by those associated with the government after the Rafale controversy broke, […]
Supreme Court to hear Rafale review in open court
The Supreme Court on Tuesday agreed to conduct an “open-court hearing” of a batch of review petitions and a perjury plea challenging its verdict on the Rafale deal. The apex court had in December dismissed petitions that questioned the fighter jet deal on the grounds of irregularities over the decision-making, pricing and the choice of […]
Delhi budget: Rs 1,900 crore for roads and bridges
The annual budget of the Delhi government presented in the Assembly on Tuesday, proposed Rs 1,900 crore for roads and bridges, which is 73 per cent more than the allocation in the current financial year. Presenting the budget, deputy chief minister Manish Sisodia also announced Rs 308 crore for street-scaping six Public Works Department (PWD) […]
Aramco eyes deal with Reliance, others for investing in India
Saudi Aramco, the world’s largest oil exporter, on Wednesday said it was in talks with Reliance Industries and other Indian firms to invest in petrochemicals and refinery projects in the country. “India is an investment priority for Saudi Aramco. There is a lot of growth potential. We are looking at additional investments in India. We […]
Nirmala sells captive-market pitch to foreign defence firms
The Union government on Wednesday made a fervent call to defence manufacturers from around the world to invest in India, saying 100 per cent foreign direct investment is allowed in the segment. In her inaugural address at the Aero India biennial air show here on Wednesday, defence minister Nirmala Sitharaman invited all defence manufacturers to […]
Air show deferred after pilot dies in collision of aerobatics planes
Two Hawk advanced jet trainers of the Indian Air Force’s Surya Kiran aerobatics team collided on Tuesday during rehearsals, killing a pilot and exploding when it hit the ground in an upcoming residential area full of highrises outside the Yelahanka IAF Station. Two other pilots were injured. Video footage captured by unidentified spectators show the […]
Two Surya Kiran planes crash during Aero India rehearsals
Two aircraft of Indian Air Force’s aerobatics team Surya Kiran crashed near the Yelahanka airbase in Bengaluru on Tuesday, a day before the opening of the Aero India show, a top police official said. Both the pilots ejected to safety, additional commissioner of police (East) SeemanthKumar Singh told PTI. But TV reports said one of […]
Demand for new footbridge
City-based NGO Jan Kalyan Morcha on Monday demanded that the Chakradharpur railway authorities declare the footbridge at Adityapur station, which was damaged on Sunday, as “condemned” and set up a new one closer to the station. The development comes at a time the bridge repair is already underway. The footbridge was damaged when an engine […]
Panel favours older oil hunt rules
Two years after the government shifted to revenue sharing contracts for oil and gas block auctions, a high-level panel has suggested reverting back to the older system of awarding areas in most basins based on the exploration commitment. The six-member panel, headed by Niti Aayog vice-chairman Rajiv Kumar, which was formed on the directions of […]
Dip in crude imports from Iran in January
India’s oil imports from Iran fell 45 per cent in January to 270,500 barrels per day oil (bpd), which is below the estimated 300,000 bpd for the month as some cargoes were delayed. The United States introduced sanctions aimed at crippling Iran’s oil revenue-dependent economy in November but gave a six-month waiver to eight nations, […]